Matador Secondary Private Equity AG (FRA:SQL) Operating Income: €3.19 Mil (TTM As of Dec. 2025)

What is Matador Secondary Private Equity AG Operating Income?

Matador Secondary Private Equity AG FRA:SQL +0.47% 39 Operating Income is €3.19 Mil as of Dec. 2025. GuruFocus rates FRA:SQL with a GF Score™ of 39/100. The stock has 3 warning signs investors should review.

Matador Secondary Private Equity AG's Operating Income for the six months ended in Dec. 2025 was €0.94 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €3.19 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Matador Secondary Private Equity AG's Operating Income for the six months ended in Dec. 2025 was €0.94 Mil. Matador Secondary Private Equity AG's Revenue for the six months ended in Dec. 2025 was €0.00 Mil. Therefore, Matador Secondary Private Equity AG's Operating Margin % for the quarter that ended in Dec. 2025 was %.

Matador Secondary Private Equity AG's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Matador Secondary Private Equity AG's annualized ROC % for the quarter that ended in Dec. 2025 was 0.29%. Matador Secondary Private Equity AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was %.

Matador Secondary Private Equity AG (FRA:SQL) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Matador Secondary Private Equity AG's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	1.878 * ( 1 - 85.86% )	/	( (91.912	+	90.762)	/ 2 )
=	0.2655492	/	91.337
=	0.29 %

where

	Invested Capital		(Q: Jun. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	94.624	-	1.114	-	( 1.598	-	max(0, 6.581	-	9.923	+	1.598	))
=	91.912

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	95.232	-	2.612	-	( 1.858	-	max(0, 7.739	-	12.273	+	1.858	))
=	90.762

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

Matador Secondary Private Equity AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1.44	/	( ( (0 + max(-1.401, 0))	+	(0 + max(-3.748, 0)) )	/	2 )
=	1.44	/	( ( 0	+	0 )	/	2 )
=	1.44	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.249	+	0	+	0)	-	(1.114	+	0	+	0.536)
=	-1.401

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.00099999999999945)	-	(2.612	+	0	+	1.137)
=	-3.748

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Matador Secondary Private Equity AG's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2025 )	/	Revenue (Q: Dec. 2025 )
	=	0.939	/	0
	=	%

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Matador Secondary Private Equity AG Operating Income Related Terms

Matador Secondary Private Equity AG Operating Income Historical Data

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The historical data trend for Matador Secondary Private Equity AG's Operating Income can be seen below:

Matador Secondary Private Equity AG Operating Income Chart

Matador Secondary Private Equity AG Annual Data

Trend

Jun16

Jun17

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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8.46

7.47

2.73

3.92

3.20

Matador Secondary Private Equity AG Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
Operating Income	Get a 7-Day Free Trial													2.35	2.24	1.60	2.25	0.94

39GF Score

Matador Secondary Private Equity AG FRA:SQL

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Matador Secondary Private Equity AG Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €3.19 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of €3.19 Mil mean?

Matador Secondary Private Equity AG (FRA:SQL) has a Operating Income of €3.19 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Matador Secondary Private Equity AG and its competitors.

Is Matador Secondary Private Equity AG's Operating Income too high?

Matador Secondary Private Equity AG's current Operating Income is €3.19 Mil. Overall, Matador Secondary Private Equity AG has a GF Score™ of 39/100, reflecting its overall financial health beyond just this single metric.

How does Matador Secondary Private Equity AG's Operating Income compare to BLK and BX?

Matador Secondary Private Equity AG's Operating Income of €3.19 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for an Asset Management company?

A good Operating Income depends on the Asset Management industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Matador Secondary Private Equity AG and its competitors. Matador Secondary Private Equity AG's current Operating Income is €3.19 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Matador Secondary Private Equity AG stock overvalued right now?

Matador Secondary Private Equity AG (FRA:SQL) has a current Operating Income of €3.19 Mil. The current Operating Income is €3.19 Mil. Matador Secondary Private Equity AG's overall GF Score™ is 39/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For Matador Secondary Private Equity AG (FRA:SQL), the current Operating Income is €3.19 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Matador Secondary Private Equity AG Business Description

Industry Financial Services Asset Management

Comparable Companies FRA:CPX FRA:PEH FRA:2INV XTER:PZS FRA:UCA1 XTER:B7E XTER:LQAG HAM:IRPA HAM:LSNA HAM:C9T BLK BX OSTO:INVE A TSX:BN KKR TSX:BAM APO STT AMP LSE:III

Other Exchanges SQL:Germany

Address Grundacher 5, Sarnen, CHE, CH-6060

Website https://www.matador.ch

Matador Secondary Private Equity AG provides consulting services for the alternative investments sector. It supports and consults in the development and expansion of the investment portfolio; and placement of investment offerings. The company offers mergers and acquisition advisory services, investor relations, and research services.

39GF Score

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